Haar Capital Management LLC

(Discretionary Comm.)

Fund Investment Objectives

HAAR CAPITAL trades two separate trading programs: the Discretionary Commodity Trading Program and the Discretionary Ag-Only Program. Both will be managed using the same fundamental trading approach and research methodology. Although the programs may at times be positioned in the same markets, they will never trade against each other (i.e. one program long and the other short in the same product). Bulk trading orders may be combined or handled separately at the discretion of Haar Capital based on market liquidity and the opportunity for balanced order entry and price allocations. Position sizing may vary between programs. The market sectors that will be traded in the DISCRETIONARY COMMODITY TRADING PROGRAM include, without limitation, Currencies, Metals, Financials, Energies, Softs, Livestock, Grains, and Equity Indices.